Classification of the Company as Corporation for Tax Purposes. (a) The Company intends to make an election as of the Initial Drawdown Date to cause it to be classified as an association that is taxable as a corporation and shall maintain such classification. (b) The Company will use reasonable best efforts to qualify as a BDC and a RIC no later than the first calendar year in which the Company anticipates it will have significant amounts of net income. (c) Once the Company has elected RIC status, the Board will use reasonable best efforts to maintain the Company’s status as a RIC.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Goldman Sachs Private Middle Market Credit LLC), Limited Liability Company Agreement, Limited Liability Company Agreement (Goldman Sachs Private Middle Market Credit LLC)
Classification of the Company as Corporation for Tax Purposes. (a) The Company intends to make an election as of the Initial Drawdown Date to cause it to be classified as an association that is taxable as a corporation for U.S. federal income tax purposes and shall maintain such classification.
(b) The Company will use reasonable best efforts to qualify as a BDC and a RIC no later than the first calendar year in which the Company anticipates it will have significant amounts of net income.
(c) Once the Company has elected RIC status, the Board will use reasonable best efforts to maintain the Company’s status as a RIC.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Phillip Street Middle Market Lending Fund LLC), Limited Liability Company Agreement (Goldman Sachs Private Middle Market Credit II LLC), Limited Liability Company Agreement (Goldman Sachs Private Middle Market Credit II LLC)
Classification of the Company as Corporation for Tax Purposes. (ai) The Company intends to make file an election as of with the Initial Drawdown Date Internal Revenue Service to cause it to be classified as an association that is taxable as a corporation and shall maintain such classificationfor U.S. federal income tax purposes as of the Initial Drawdown Date.
(bii) The Company will use reasonable best efforts to qualify as a BDC and a RIC no later than the first calendar year in which the Company anticipates it will have significant amounts of net income.
(ciii) Once the Company has elected RIC status, the Board will use reasonable best efforts to maintain the Company’s status as a RIC.
Appears in 1 contract
Samples: Limited Liability Company Agreement (T Series Middle Market Loan Fund LLC)
Classification of the Company as Corporation for Tax Purposes. (a) The Company intends to make has made an election as of the Initial Drawdown Date to cause it to be classified as an association that is taxable as a corporation and and, subject to clause (d) below, shall maintain such classification.
(b) The Company will use reasonable best efforts to qualify as a BDC and a RIC no later than the first calendar fiscal year in which the Company anticipates it will have significant amounts of net income.
(c) Once the Company has elected RIC status, the Board will use reasonable best efforts to maintain the Company’s status as a RIC.
Appears in 1 contract
Samples: Limited Liability Company Agreement (TCW Direct Lending LLC)
